4 alternative assets that ultra-rich people are making money on

Discussion in 'Wall St. News' started by dealmaker, Mar 10, 2019.

  1. apdxyk

    apdxyk

    I don't mind buying a Caravaggio piece and donating it to a museum. Not there financially yet.
     
    #11     Mar 13, 2019
    sle likes this.
  2. I can report first hand that getting involved in collectibles can be very profitable over the medium to long term. Literally everything I touched over the years(decades) appreciated a lot. When one is rolling in money as traders do sometimes it is good to peel some of it off and diversify.

    Unlike securities, collectibles are an inefficient market so once one becomes experienced one can make the initial purchases for less then the going comparables and have an immediate gain at the start. There is so much background and price info available on the web that one could become an expert if one applied one self.
    It is fun end it improves one's quality of life.

    Like with anything having imagination and being proactive sometimes help. Once I spotted a fine marble statue from India on eBay sold by an LA dealer with a very low starting price. It was for local pick up only so anyone outside of LA would pass on it and they did. I asked the seller what if I sent my own shipping crate, would he dispatch it for me? He said yes, but after I paid for the item he said you know what? I will pack this for you. So, for taking initiative I got a great piece at a very good price without having to compete. I would not have purchased this at full price.
    Like in most investment endeavors there is money to be made by ferreting out and presenting objects to the armchair type investor. This is how collectors sometime end up being dealers.
     
    #12     Mar 16, 2019